Karnataka notifies law banning online betting games
passed amendments to Karnataka Police Act, 1963 during its recent session.
The law bans online games that are “games of chance” in nature. It read: “gaming means and includes online games, involving all forms of wagering or betting, including in the form of tokens valued in terms of money paid before or after issue of it, or electronic means and virtual currency, electronic transfer of funds in connection with any game of chance, but does not include a lottery or wagering or betting on horse-race run on any race course within or outside the State, when such wagering or betting takes place.”
“Instruments of gaming’ includes any article used or intended to be used as a subject or means of gaming, including computers, computer system, mobile app or internet or cyberspace, virtual platform, computer network, computer resource, any communication device, electronic applications, software and accessory or means of online gaming, any document, register or record or evidence of any gaming in electronic or digital form, the proceeds of any online gaming as or any winning or prizes in money or otherwise distributed or intended to be distributed in respect of any gaming,” it further said.
Home Minister Araga Jnanendra had recently told ET that the government was working on a set of draft rules which will soon be placed in the public domain to get views and comments from stakeholders before it is notified.
ALSO READ TECH NEWSLETTER OF THE DAY
Licious has raised $52 million in a funding round led by IIFL Asset Management’s private equity fund at a valuation of just over $1 billion. This makes it the first direct-to-customer company and the first meat delivery startup in India to join the unicorn club.
Read Now
( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a economictimes.indiatimes.com feed.)
Related searches :
